President Barack Obama announced that the U.S.-Colombia Trade Promotion Agreement will take effect on May 15. On that day, over half of exports of U.S. agricultural commodities, including bacon, high-quality beef, wheat, barley, soybeans and almost all fruit and vegetable products will become duty free.

The agreement also provides for duty-free tariff rate quotas into Colombia on animal feeds, regular quality beef, chicken leg quarters, dairy products, corn, sorghum, rice and soybean oil. In 2011, the U.S. exports to Colombia were $14.3 billion.